Kombat Copper Announces $3 Million Private Placement Financing

TORONTO, ONTARIO -- (Marketwired - Nov. 24, 2014) - Kombat Copper Inc. (TSX VENTURE:KBT) ("Kombat" or the "Company") today announces that it has launched a non-brokered private placement financing (the "Offering") of up to 42,857,142 units (each, a "Unit"), each Unit being comprised of one common share (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant") at a purchase price of $0.07 per Unit for gross proceeds of up to $3,000,000. Each whole Warrant shall entitle each holder to acquire one Common Share at an exercise price of $0.12 per Common Share at any time before the date that is three years from the date of issue, subject to an acceleration provision whereby in the event that at any time after the expiry of the regulatory hold period, the Common Shares trade at $0.20 or higher on the TSX Venture Exchange, on a volume weighted average basis for a period of 30 consecutive days, the Corporation shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.

The securities underlying the Units, including the Common Shares and Warrants issued on closing, as well as the Common Shares issuable upon due exercise of the Warrants, will all be subject to a four month statutory hold period. Closing of the Offering is expected to occur on or about December 1, 2014 and remains subject to a number of conditions, including without limitation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The Company may pay finders' fees in connection with the Offering.

The Company intends to use the proceeds to fund further exploration efforts at the Company's Kombat Mine to increase the Mineral Resource Estimate to support a positive PEA, as well as for general working capital purposes.


About Kombat Copper

Kombat Copper (TSX VENTURE:KBT) is a publicly traded Canadian exploration and development company with its core operations focused on copper resources in Namibia, one of the world's most prospective copper regions, where it has substantial assets in place with significant exploration upside.

The Company holds an 80% interest in five Mining Licenses in the Otavi Mountainlands, an area of Namibia particularly known for its high-grade copper deposits. Within these licenses are three past-producing mines including the Company's flagship property: the past-producing Kombat Mine. The Kombat Mine's extensive infrastructure includes an 800m production shaft which was opened in 2006, three recently-operational shafts, ramp systems, extensive underground workings, mine buildings, a tailings facility, a mill and concentrator all supported by the Company's local town site. The Kombat mine originally opened in 1962 and is linked to vital existing infrastructure, including power, water, roads, and rail with close proximity to the port of Walvis Bay and to one of only five commercial-grade smelters in Africa located in Tsumeb, located 100 road kilometers away from Kombat.

In addition to mining licenses, the Company holds an 80% interest in five Exclusive Prospecting Licenses ("EPL's") covering an area of more than 1,550 km2. The EPL's are located within the copper-rich Otavi Mountainlands and are in close proximity to Tsumeb.


Qualified Person

F. W. Nielsen, P.Geo., President and CEO of Kombat Copper, is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.


Cautionary Notes

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements. These statements include statements regarding the proposed financing, the expected use of proceeds, the Company's plans for the Kombat Mine, its expectations for the Kombat Mine and the expected effect on the Company's financial and operating results. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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CONTACT INFORMATION

Kombat Copper Inc.
Bill Nielsen, President and CEO
+1 (416) 861-1685
info@kombatcopper.com

Rob Hopkins, Manager, Investor Relations
+1 (416) 861-5899
info@kombatcopper.com
www.kombatcopper.com